Financial Crime as an area of study and research

Financial crime impacts on economic security and stability in so far as it undermines integrity and the proper operation of the financial system. It is invariably motivated by greed and many of the mechanisms that are deployed to interdict and control the incidence of financially relevant crime and misconduct seek to address this economic motivation. Consequently in seeking to manage the threats posed by financial crime an inter-disciplinary approach is desirable involving many aspects of the law, regulation, governance and compliance. Many factors have militated against the effective study of issues associated with financial crime and in particular responses to it. This dearth of analysis and discussion undermines the efficacy of policies and interventions. If financial crime is to be better prevented and managed the academy needs to become more involved and resourced. This chapter addresses the problems and hurdles that need to be resolved and overcome.